The Refinishing Touch Blog

How can a recession translate into a greener economy? Recently, we discussed techniques for sales divisions to adopt for increasing business. Now, we'd like to focus on another initiative that all companies should take into consideration during a time of recession - taking time to revaluate current business practices. No matter what the current status of your business is during this time of turmoil and uncertainty, it's essential to look at your business, revaluate practices, and strategize new tactics to increase productivity and the bottom line as well as save money.

In a recently article entitled, "How the Recession Means More Green Buildings (and Why That's Good for the Economy)" shines a green light on the current economic depression we are in. While many companies revaluate business practices, it is also important to also consider the consumer and what is important to them as we move through these difficult economic times. In a survey done by the Opinion Research Corporation, 73% said they would pay more for products that are better for the environment and 89% said they would pay more for products that will reduce heat and cooling costs. Consumer behavior seems to be following the trend of "going green." With this in mind, businesses should consider ways to go green with the consumer in mind and areas that are most important to them when it comes to going green. This will not only cause an increase in sales, it will also cut overall costs in the long run. Consumers and businesses want to affiliate with companies that have a green plan and doing their part to help the environment.

With 2009 just around the corner and President elect Barack Obama preparing for office by assembling a green dream team, we at The Refinishing Touch believe green renovation is one of the most important ways business' can improve the environment and the bottom line. We have been in business for over 30 years, focusing on renovation and refinishing which not only benefits the environment but also helps your company in the long run. We are looking forward to seeing the country move towards a more sustainable future through Obama's proposal of a new public works program which will include not only a great number of jobs, but a focus on energy efficient buildings. The demand to go green and focus on green renovation and remodeling may provide the boost the economy needs while also providing many new jobs.

Labels: Business, economy, Energy Efficiency, Green

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As we approach the end of the year, 2009 seems like a terrifying time for many businesses. 'Turbulent' is a word that could describe the world's economy all to well. As many companies struggle with the state of the economy and what lies ahead they are also striving to achieve measureable results corresponding with profitability and growth. We believe it is about how you react to these unstable times that will truly measure your organization's success.

What will be the driving force behind many companies' positive change during this chaotic economy?
Leadership. Leadership can and must come at every level. Companies may find themselves looking for a solution to set them apart or revamp themselves as a whole to stand out as a company that is doing things the right way or differently to survive a tough time. Empowering leaders at all levels will help be a driving force in the success of a company.

We, at The Refinishing Touch, believe in innovation and leadership. Looking at new ways to use existing assets or ways to go green while saving green can help businesses sustain the turbulent times ahead. The Refinishing Touch helps many companies save time and money by refinishing and re-upholstery existing furniture assets. Sometimes it's the smallest changes that can make the biggest differences in an organization. We'll continue to look at the current economic climate and how it affects business today while also helping to keep you empowered to survive during these tumultuous times.

Labels: 2009, economy, Green, innovation, leader, leadership, renovation, turbulant

With all this talk about going green and saving our environment, there seems to be confusion around carbon admission, the size of your carbon footprint and how they tie into carbon credits. Many are unaware of what carbon credits are and how they are earned and used.

We are dedicating this post to explain what carbon credits are and how they can benefit all business sectors, including hospitality and educational institutions.

Carbon credits came about from the Kyoto protocol which is an environmental treaty that was produced at a United Nations conference on environment and development. The protocol is an agreement among nations to limit their carbon emissions while stabilizing the green house gasses in the atmosphere. As a result of the protocol, each nation must be able to account for or "absorb" the carbon they are allotted to produce. If they are unable to do so, they must purchase carbon credits (which are the currency of 'absorption ability') from other nations who have been planting trees for such deliberation. This money will eventually go to grants to further carbon saving methods.

Like many others, you may find yourself wondering what the benefits of carbon credits are. Carbon credits were established instead of carbon taxes to help businesses understand more easily how to efficiently manage their environmental activities.

So, how can carbon credits benefit US organizations? Companies can sell credits to commercial and individual customers. Customers interested in buying credits are interested in lowering their carbon footprint and those selling credits have reduced their carbon footprint.

We, at The Refinishing Touch, believe in the benefits of having a smaller carbon footprint, no matter the size of the business, university or hospitality organization. Reducing carbon footprints will eventually reduce the carbon credits that our nation must purchase.

With an expiration date set in 2013, we will continue to talk about this more as the process evolves. Stay tuned for a new post early next week with more on carbon credits.

Labels: Calculate your Carbon footprint, Carbon Credit, Kyoto protocol

The typical hustle and bustle of the holiday season around the world is missing this year due to the current economic climate. Since the US economic plunge hit, many travelers (business and leisure) throughout the world have scaled back. The global financial crisis has put a halt on the majority of travel around the world. The problem isn't the capacity for travel, the problem is creating the demand and need for it again despite current economic conditions.

Rome is one of the many cities around the globe seeing a dramatic decline in hotel occupancy.
Rome felt a 17.5 percent decline in October compared with the same month last year. In addition to hotel occupancy, global air travel has also fallen as the economic crisis takes a toll on the world economy.

The International Air Transport Association (IATA) said that international passenger traffic had decreased 1.3 percent in October compared with the previous year. As we all know, business travel helps drive both airline traffic and hotel occupancy rates. Whether for conferences held on site at hotels and resorts or at facilities elsewhere, airline traffic and hotel occupancy go hand in hand for business travel.

Premium air travel hit low in north Atlantic markets, between the US and Asia across the Pacific, and within the Middle East. Luxury brand five-star hotels, such as The Grand Hotel Plaza in Rome are also feeling the pinch. Other global cities are feeling this same pinch when it comes to hotel occupancy. Guests are looking for more affordable accommodations while they are traveling and are overlooking some of the high end properties that were once sought after.

When major global cities such as Hong Kong, Los Angeles, Madrid, New York, Paris, Toronto and Sydney start to feel the pinch - we know we are in the midst of tough times.

What's to come in 2009 is unknown at this time, however, we can only be optimistic that there will be change coming. In the meantime, we can continue to work with hotel executives to ensure budgets are in tact, existing furniture on property is maintained and guest relations continues to be a priority for those that are embarking on travel this holiday season.

Labels: economy, Hospitality, travel

It's no secret that the current economic climate is in rough shape. However, as the economy downturns, there becomes an opportunity for investors to look at new ventures as a result of the credit crisis and the global economic slump. It's the time to invest when property prices are coming down and this is also the case for commercial property such as hotels.

The future of three major hotel brands, Marriott, Starwood and Hilton, were strengthened this week, despite the current state of the hospitality industry, when the announcement of Fairwood Capital LLC, a hotel investment fund was announced. Three hotel industry gurus, Ed Ansbro, Robert Solmson and Richard Reiss will serve as the hotel investment fund's principals. The news definitely breathed new life into the future of each of these hotel brands since they will be the initial focus.

It was reported that Fairwood's partners and two institutional investors contributed $150 million in equity of Fairwood Hospitality Investors LLC. They will maintain offices in Memphis and New York City.

The company's investors project the company having a possible $300 million in equity over the next few years. Plans also include even further economic contribution with outside hiring for property management. It will be interesting to see what time of changes are made with Fairwood's investment. Could that mean more renovation projects? Opportunities for contractors as well as hospitality management?

Given the hospitality industry's role as a key player in the health of the economy, Fairwood's announcement comes as news of a much anticipated movement toward positive, profitable change.

Undoubtedly, Fairwood's establishment will mark the beginning of a trend that will keep development and prosperity on the horizon for the hotel industry. We here at The Refinishing Touch are looking forward to the stimulus that Fairwood strives to achieve.

Labels: economy, Fairwood Capital LLC, Hospitality

When students visit college campuses, what they notice first is how the campus looks. Campuses where everything looks old and dingy are unattractive for students that are thinking of attending, and serve as a constant reminder for students already there that a transfer is only a few paper shuffles away.

Keeping campuses looking new, and making the spaces within function better, can help attract and retain students. It contributes to the overall collegiate experience for individual students, and can alter fundamental group dynamics. It's not just about transforming: it's about sustainability and renovating spaces and furnishings to ensure that they are the best condition for students and staff.

Duke University's high-profile Perkins Project is moving close to completion. The project, which covers several library and campus buildings, was started in 2001 and has seen the redesign and renovation of library spaces, study rooms, the creation of a 24,000 square foot teaching and learning center and several new seminar rooms.

It strikes me that Duke has really reflected how space, furnishings and planning can create dynamic and inspirational teaching environments. The university has also applied sustainable principles to the project, from the reuse of construction materials, insulation and storm water collected for both irrigation and to contribute make-up water for a steam plant.

The Refinishing Touch team has worked with colleges and universities across the country, and we have seen the difference that well-planned and even simple changes can make to the learning environment. As these projects are based on grants and contributions and under the watchful eyes of trustees, it's essential that they balance being environmentally-friendly and cost-effective at the same time, which is why renovation and refurbishing is key.

The Perkins Project won't be fully completed until August 2011 when the final phase, its 1928 West Campus library building and 1948 addition, is ready for students to browse its shelves. But it's great to see such an innovative project maintain momentum, to show other educational institutions what imagination, planning and renovation can achieve.

Labels: Duke University, Perkins Project, renovation